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Posted by on Sunday, June 18, 2006 at 4:55pm.

Price elasticity of demand.Tell whether is elastic,perfectly inelastic,perfectly elastic, inelastic,or unit elastic. And what would happen to total revenue if a firm raised its price in each elasticity range identified.a.Ed=2.5 b.Ed=1.0 c.Ed=~ D. Ed=0.8


Elasticity of demand is the (%change in Q)/(%change in P). Greater then 1.0 is elastic, less than 1.0 is inelastic. While elasticities of demand are often expressed as positive numbers, in fact, they all should be negative. (When price goes up, quantity demanded falls.)

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  • Ecconomics - , Saturday, September 25, 2010 at 11:36pm

    Price elasticity of demand.Tell whether is elastic,perfectly inelastic,perfectly elastic, inelastic,or unit elastic. And what would happen to total revenue if a firm raised its price in each elasticity range identified.a.Ed=2.5 b.Ed=1.0 c.Ed=~ D. Ed=0.8

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